Market news and trade recommendations by FBS

[riki143]

Forex Analytics

EUR/USD: flat above the broken "Triangle"
11 April 2016
Sergey Logachev

We’ve got an upward trend on the four-hour chart. Currently, there's a flat in progress above the breaking point of the last “Triangle’ pattern. Therefore, the market is likely going to get a resistance at 1.1437 – 1.1459. If so, a bearish correction will have a chance to reach a support area at 1.1341 – 1.1326 afterwards.

There’s a bullish movement along the current uptrend line. It’s likely to see the pair higher in the short term. Considering a possible pullback from the nearest resistance at 1.1437 – 1.1459, a downward correction will probably begin, so we should keep track of a support area between the 55 Moving Average and the level 1.1376.

More:
https://fxbazooka.com/en/analitycs/show/8555

 

[riki143]

Forex Analytics

GBP/USD: bulls has broken the downtrend line
11 April 2016
Sergey Logachev

The price has been moving in a range since the downward trend line was broken. We've got a “V-Bottom” pattern above a support at 1.3995, which led to the current flat. The pair is likely going to get a resistance at 1.4170 – 1.4194. If a pullback from this area arrives, then bears will have an opportunity to return to the market. So, we should cast wary eye at a support at 1.4052 – 1.3995.

There's a flat in progress, which led to break the local downtrend line. The 55 Moving Average acts as a resistance, so the market is likely going to rise towards a resistance at 1.4170 – 1.4190. If we see a pullback from this area, then bears will have a chance to achieve a support at 1.4081 – 1.4056.

More:
https://fxbazooka.com/en/analitycs/show/8556

 

[riki143]

Forex Analytics

CHF/JPY: broke support level 114.00
11 April 2016
By: Dmitriy Chernovolov

-CHF/JPY broke support level 114.00
-Next sell target - 112.30

CHF/JPY continues to fall inside the accelerated impulse wave 5, which belongs to the sharp extended downward impulse wave (3) from the middle of October. The price earlier broke the support level 114.00 (which was set previously as the sell target for this currency pair) – which accelerated the active impulse waves 5 and (3) – which are both a part of the primary downward primary impulse wave ① from last year.

CHF/JPY is likely to fall further toward the next sell target at the strong support level 112.30 (which stopped the previous impulse waves 3 and (b)). The price is likely to reverse up from the support level 112.30 toward the recently broken price level 114.00.

More:
https://fxbazooka.com/en/analitycs/show/8567

 

[riki143]

Forex Analytics

EUR/USD: the flat is rich of candle patterns
11 April 2016
Galina Svetlova

The market has been moving up and down in the current flat's range. The price achieved the nearest resistance once again and started declining afterwards. We’ve got an “Engulfing Bullish” on the 21 Moving Average, so the market is likely going to reach this line again, but then bulls will have a chance to return. As we can see on the Daily chart, there're a “High Wave” and a “Hanging Man” at the last high, but they haven’t confirmed yet. So, today’s candle is probably going to be a bullish one.

There’s a flat in progress with a support by the 89 Moving Average. Therefore, we've got a “Shooting Star” at the last high, but also here’s a “Harami” on the Moving Average. So, the market is likely going to get a support on the 144 Moving Average. Considering a possible pullback from this line, the current uptrend is about to continue.

More:
https://fxbazooka.com/en/analitycs/show/8568

 

[riki143]

Forex Analytics

EUR/CAD: reversed from resistance zone
11 April 2016
By: Dmitriy Chernovolov

-EUR/CAD reversed from resistance zone
-Next sell target –1.4660

EUR/CAD continues to decline inside the second intermediate correction (2) – which started previously - when the price reversed down from the resistance zone lying between the round resistance level 1.5000 (which also previously reversed the price sharply in March), 38.2% Fibonacci correction of the previous sharp intermediate (C)-wave from February and the upper daily Bollinger Band.

EUR/CAD is likely to fall further inside the active intermediate correction (2) toward the next sell target at the support level 1.4660 (which has been reversing the price from the middle of March, as can be seen below). Strong resistance remains at the aforementioned price level 1.5000.

More:
https://fxbazooka.com/en/analitycs/show/8569

 

[riki143]

Forex Analytics

USD/JPY: "Window" is still holding back bears
11 April 2016
Galina Svetlova

There’re a package of candle patterns on the nearest “Window” level. We’ve got a couple of “Tweezers” and “Hummers”, but all of them haven’t a confirmation yet. However, if a confirmation arrives afterwards, then it’ll be a chance to see the market on the 21 Moving Average. As we can see on the Daily chart, there's an “Inverted Hammer”, but it requires a confirmation as well. Anyway, today’s candle is likely going to be a bullish one.

We’ve got a bearish trend on the one-hour chart. At the same time, there’re a lot of bullish patterns such as a “Tweezers”, a “Hammer”, a “Tower”, an “Engulfing” and a “Harami”, but they haven’t been confirmed yet. So, the 21 Moving Average is likely going to be reached once again.

MAKE MONEY ON IT


https://fxbazooka.com/en/analitycs/show/8571

 

[riki143]

Forex Analytics

Forex trading plan for April 12

By Elizabeth Belugina

US dollar index fell to 94.00. Later on Monday the Federal Reserve will hold a closed meeting on interest rates. The last time the Fed conducted such meeting was in November 2015, ahead of the rate hike. However, given the dovish position of the Fed’s head Janet Yellen, traders don’t expect the same to happen this time. However, the Fed will release an announcement sometime after 18:00 GMT, and we should learn more about the regulator’s position from it.

Oil prices represent another important market mover. A very important meeting between OPEC and non-OPEC oil producers will take place on April 17.

Global stocks rose on Monday, but the positive movement may be brief as the earnings season starts in the US, and the figures will likely be bad.

EUR/USD keeps trading sideways with a small upward bias. Support is at 1.1380, 1.1330 and 1.1300. Resistance is at 1.1455 and 1.1500. No news from the euro area, message from the Fed is in focus.

GBP/USD jumped to 1.4250 on Monday retracing more than 50% of the decline from 1.4460 to 1.4000. The UK will release inflation data at 08:30 GMT. The market expects an improvement in the UK inflation figures, though traders don’t think that the Bank of England will change policy or sound more hawkish at its meeting on Thursday. As a result, we prefer selling GBP/USD on attempts to get higher. Resistance is at 1.4320, 1.4350 and 1.4400. Support is at 1.4180, 1.4135 and 1.4055.

USD/JPY recovered for the second time from the levels below 107.70. Targets for correction up lie at 108.75, 109.10 and 109.50. Break below 107.60 will open the way down to bigger support at 106.60.

If AUD/USD closes the day above 0.7600, it will turn to 0.7670. Failure will result in decline to 0.7500.

More:
https://fxbazooka.com/en/analitycs/show/8573

 

[riki143]

Forex Analytics

EUR/USD: price take hold above the Triangle
12 April 2016
Sergey Logachev

The main trend is a still bullish one. The market has been moving in a flat since the upper side of the last “Triangle” pattern was broken. So, currently the flat is likely going to be continued. At the same time, we should keep an eye on the nearest resistance area 1.1437 – 1.1459, which acts as a main target for bulls. If a pullback from this area happens, then it’ll be a chance to see a bearish correction towards a support at 1.1341 – 1.1326.

The price has found a resistance at 1.1453 and formed a “V-Top” afterwards, which led to the current decline. So, the pair is likely going to get a support somewhere between the 34 Moving Average and the level 1.1376. If bears be stopped here, then bulls will probably try to reach a resistance at 1.1437 – 1.1447.

More:
https://fxbazooka.com/en/analitycs/show/8579

 

[riki143]

Forex Analytics

GBP/USD: bulls took a cue from the Double Bottom
12 April 2016
Sergey Logachev

The price formed a “Double Bottom” pattern, which has been confirmed. Finally, a resistance at 1.4283 was achieved, which led to the current decline. So, the market is likely going to get a support at 1.4170 in the short term. If so, a rise towards a resistance 1.4305 – 1.4342 becomes possible afterwards.

We've got a “V-Top”, which made possible the current downward correction. The market is likely going to reach a support at 1.4190 – 1.4170. If we see a pullback from here, bulls will have an opportunity to achieve a resistance area at 1.4285 – 1.4320.

https://fxbazooka.com/en/analitycs/show/8580

 

[riki143]

Forex Analytics

XAU/USD: gold is targeting higher levels
12 April 2016

Daily. It seems that corrective wave [E] still wasn’t finished. At the final section we see the formation of the final part of the upward triple Zigzag – wave (z).

H4. We assume that after the wave (X) was over the pair started developing Zigzag (Z). Today and in the next trading days we expect the price to keep moving towards 1284.2. Then the asset will reverse down.

More:
https://fxbazooka.com/en/analitycs/show/8581

 

[riki143]

Forex Analytics

EUR/USD: "Harami" played into the bulls hands
12 April 2016
Galina Svetlova

The market has been rising, which just brought a new high. Previously, the pair got a support on the 21 Moving Average and a “Three Methods” pattern has been formed afterwards. So, the price is likely going to continue moving up, but also there’s an opportunity to see a local correction on the way. At the same time, we’ve got a “High Wave” and a “Hanging Man” on the Daily chart, but they haven’t confirmed yet, so the market can ignore them easily. Under this circumstances, today’s candle is likely going to be a bullish one.

We’ve got an “Engulfing” and a “Harami” on the 55 Moving Average, which led to the current rise and a new high. We've got a possible “Shooting Star”, but it hasn't confirmed yet. So, it’s likely to see a downward correction from the nearest resistance line during the day. Anyway, bulls are still have enough power to resume their rally after the local correction.

More:
https://fxbazooka.com/en/analitycs/show/8583

 

[riki143]

Forex Analytics

EUR/AUD falling inside minor correction 2
12 April 2016
By: Dmitriy Chernovolov

-EUR/AUD falling inside minor correction 2
-Next sell target - 1.4730

EUR/AUD continues to fall inside the minor correction 2 – which started earlier - when the price reversed down from the resistance zone lying between the resistance level 1.5200 (former support level from March, which reversed the previous A-wave, as can be seen below), the upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp intermediate ABC correction (2) from the middle of February.

EUR/AUD is likely to fall further in the active wave 2 toward the next sell target at the support level 1.4730 (which has been repeatedly reversing this currency pair from the start of last month). Strong resistance remains at 1.5200.

More:
https://fxbazooka.com/en/analitycs/show/8585

 

[riki143]

Forex Analytics

AUD/USD rising inside minor impulse wave (v)
12 April 2016
By: Dmitriy Chernovolov

-AUD/USD rising inside minor impulse wave (v)
-Next buy targets – 0.7720 and 0.7800

AUD/USD continues to rise inside the minor impulse wave (v) - which started earlier – when the price reversed up from the support zone lying between the support level 0.7500 (which also previously stopped the earlier minor correction (ii)) and the 38.2% Fibonacci correction of the previous upward impulse from the end of February. The active impulse wave (v) belongs to the C-wave of the sharp intermediate ABC correction (2) from January.

AUD/USD is likely to rise further in the active impulse waves (v) and C toward the next buy target at the resistance level 0.7720 (top of the previous impulse (iii)) – the breakout of which can lead to further gains toward 0.7800 (intersecting with the resistance trendline of the daily up channel from January, which encloses the active wave (2)).

More:
https://fxbazooka.com/en/analitycs/show/8586

 

[riki143]

Forex Analytics

Trading plan for April 13: beware the Chinese dragon

By Kira Iukhtenko

US Dollar still remains vulnerable with the USD Index holding below 95 points. Investors remain skeptical about the Fed’s tightening prospects on the April 27 meeting. What’s more, the US currency is hurt by the strong oil market recovery: Brent price broke above 43 dollars on Tuesday. Such а positive market sentiment could be hurt by China’s trade balance on Wednesday – beware the risk. Tomorrow you should also watch US retail sales and PPI: upbeat forecasts pave the ground for a local USD retracement.

EUR/USD is consolidating slightly below the 1.1400 mark. On Tuesday, bulls were trying to break this figure to the upside, but faced strong resistance at 1.1460. In the medium term, we expect the US Dollar to extend the upside, but the 1.1450/1.1510 area is a hard nut to crack. Key support – 1.1350.

GBP/USD has also pushed to the upside on strong UK labor market figures, but was capped by 1.4350. You may see a long-legged candle being formed on the daily chart. The 55-day MA is now acting as a resistance, so we expect the pair to retest 1.4050 in the coming sessions.

As for USD/JPY, a local double bottom is being formed here with a neckline at 108.40. Correction could extend to 109.00.

What’s more, the USD/CAD pair is worth observing these days. Bears are dominating for a third consecutive day. Break below the strong support at 1.2800 (March highs) would pave the ground for more downside. Bank of Canada is scheduled to meet on Wednesday – negative comments about the CAD’s strength could become a temporary risk for our bearish forecast.

More:
https://fxbazooka.com/en/analitycs/show/8589

 

[riki143]

Forex Analytics

EUR/USD: "Three Methods" helped to bears
13 April 2016
Galina Svetlova

Despite of a “Shooting Star” and an “Engulfing” at the last high, the current decline looks like just a local correction. The price has reached the 55 Moving Average, which could act as a support, so a small bullish movement is a likely possible in the next few hours. Anyway, the main target for bears is the nearest “Window”. As we can see on the Daily chart, there’re a “High Wave” and a “Doji”, which both have been confirmed, so today’s candle is likely going to be a black one.

We’ve got a very bearish “Shooting Star” with a quite long shadow, which led to the current downward movement. The price found a lodgement under the Moving Average lines. We don't have any reversal patterns so far, but the market is likely going to taste the 144 Moving Average once again. If a pullback from this line happens, it's be a chance for bears to deliver a new low.

More:
https://fxbazooka.com/en/analitycs/show/8602

 

[riki143]

Forex Analytics

USD/JPY: "Window" made a good job
13 April 2016
Galina Svetlova

The pair has been rising since a lot of reversal patterns were formed on the nearest “Window”. So, the market is likely going to reach the 34 Moving Average. As we can see on the Daily chart, there're an “Inverted Hammer” and a “Doji” at the last low, which both were confirmed by yesterday’s white candle. So, today’s candle is probably going to be a white as well.

Anyway, the current rise could be just a correctional part of the main bearish trend. The price reached the 89 Moving Average, which could act as a resistance. Considering that we haven't got any bearish reversal patterns so far, it's possible to see just a local downward movement and a new intraday high afterwards.

More:
https://fxbazooka.com/en/analitycs/show/8603

 

[riki143]

Forex Analytics

Forex trading plan for April 14
13 April 2016
By Elizabeth Belugina

Chinese trade balance have diminished traders’ concerns about the economic outlook for Asian and global economy. Even the reduction in the IMF’s world growth forecast didn’t seem important in these circumstances.

US dollar index reversed up and has potential for further growth. Although American retail sales came below forecast, the previous reading was revised to the upside. US inflation data is due at 12:30 GMT on Thursday, the forecast is rather good.

European currency breached support levels versus US dollar and British pound. The euro area’s industrial production fell by 0.8% in February, making the biggest decline in 18 months. The region will release March inflation figures at 09:00 GMT. Focus on support at 1.1260 and 1.1210/00 for EUR/USD. The next important level is at 1.1140. Resistance is at 1.1330 и 1.1385.

GBP/USD was very volatile in the 1.4200/1.4300 area. British pound is positively reacting to oil prices growth. Yet, the results of the Bank of England’s meeting are due at 11:00 GMT on Thursday. No changes in the regulator’s policy and no hawkish statements are expected. Support is at 1.4170 and 1.4050, while resistance is at 1.4350 and 1.4400.

USD/JPY managed to recover as the market’s risk sentiment improved. The pair may test resistance at 109.50 and 110.00, by the way up won't be easy. Support is at 108.50.

AUD/USD once again tested levels above 0.7700. There was a bearish engulfing at H4, so Aussie is vulnerable for decline to 0.7630/00. Australia will release labor market data at 00:30 GMT. The forecast is mixed.

More:
https://fxbazooka.com/en/analitycs/show/8605

 

[riki143]

Forex Analytics

EUR/USD: bears ripped the "Rectangle" to shreds
14 April 2016
Sergey Logachev

The market was trading in a flat for two weeks, which finally led to the current decline. There’s a reversal “Triple Top” pattern, so the pair is likely going to reach a support 1.1217 – 1.1188. If we see a pullback from this area, bulls will have a chance to achieve a resistance area between the 55 Moving Average and the level at 1.1273.

As we can see on the one-hour chart, the price movement in a range of the “Rectangle” pattern was finally ended by the strong bearish rally. The price faced a support at 1.1259, so currently we’ve got a local upward correction. If the pair gets a resistance at 1.1284, a decline will likely continue towards a support at 1.1237 – 1.1219.

More:
https://fxbazooka.com/en/analitycs/show/8607

 

[riki143]

Forex Analytics

GBP/USD: "Thorn" made bears come back
14 April 2016
Sergey Logachev

We've got a “Thorn” on the upper resistance zone, which led to the current decline. The market is going to face a support at 1.4117, so if bears won’t have any issues with this level, we should keep an eye on the nearest support at 1.4052. If a pullback happens afterwards, it’ll be a chance to see an upward correction.

There’s a “Triple Top”, which brought bears to the market. The price faced a support at 1.4140, so an upward correction becomes possible. If the pair gets a resistance at 1.4156 – 1.4170, bears are likely going to deliver a new low.

More:
https://fxbazooka.com/en/analitycs/show/8609

 

[riki143]

Forex Analytics

EUR/USD: the stroke of a "Hammer"
14 April 2016
Galina Svetlova

There’re a “Shooting Star” and an “Engulfing”at the last high, which have been confirmed. The price reached the nearest “Window”, so in case of a possible pullback from here, it’ll be a chance to see an upward correction. As we can see on the Daily chart, candles at the last high look like a “Tower” pattern. So, the market is likely going to decline during the day.

The price has found a lodgement under the Moving Average lines. There's a “Hammer” on the nearest support line, but it hasn't confirmed yet. So, it’s possible to see a bullish correction towards the last “Three Methods” pattern in the short term.

More:
https://fxbazooka.com/en/analitycs/show/8613